Prenuptial Agreement signed on the day before wedding is upheld
The Alabama Court of Civil Appeals recently held that a prenuptial agreement was valid, even though it was signed by the parties one day before their wedding and wife failed to read the entire document.
The court found that the wife was not prevented from reading the agreement, and that as a real estate agent she should have been familiar with the import of reading a legal document.
The Court apparently also found it important that the wife knew the husband was a "millionaire" before they married, and thus was aware of the general extent of his assets at the time she signed the agreement. Reportedly the wife attempted to seek legal advice, but when she was advised that her attorney was unavailable she declined to seek other counsel.
There are several lessons here: one is not to sign a prenuptial agreement on the day before your wedding. I can't tell you how many of the people that come to retain me to help them with their prenuptial agreements that wait until the last minute. That is a terrible idea. The other lesson is to get legal counsel. In this case, the wife likely gave up significant legal rights. And, whether she was a real estate agent or not, she may not have fully appreciated the impact her signature had.
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Prenuptial Checklist - What to Include
Fellow family law blogger, Jeffrey Lalloway of the California Divorce and Family Law Blog, recently concluded a series of posts on what to include in your prenuptial agreement.
It is a great series (as is his blog). I emphasize numbers 2 and 12 as these are two issues that, if properly addressed, can help ensure the validity of a prenuptial agreement in Alabama (i.e. full disclosure and representation by a lawyer for both parties).
Also, when reading, keep in mind that Alabama is not a community property state like California. Thus, some of the terminology might be different, though the issues regarding the divisibilty of property would be the same. And, I must admit, I've not had the prenuptial in which we included number 13 (but I have seen it come up in divorces before!)
Here is his list:
1. Decide how all of your debts will be handled. This includes those debts incurred before you are married and those incurred after you are married.
2. Make sure you disclose all of your assets, liabilities, sources of income, and any other potential future assets, such as gifts or inheritances.
3. Should you divorce or die, decide who will get your primary residence or any vacation homes.
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